Schibsted ASA Reports Q3 Earnings with $0.14 EPS, Stock Reacts

Schibsted ASA, a prominent media and technology group based in Oslo, Norway, released its earnings results for the third quarter on Thursday. The company reported earnings per share (EPS) of $0.14 and revenue of $149.56 million for the quarter, according to data from Zacks.

In midday trading on Friday, Schibsted’s stock, listed under the symbol OTCMKTS:SBSNY, experienced an upward movement, increasing by $1.35 to reach $27.90. The trading volume for the day was 10,950 shares, surpassing the average volume of 9,394 shares. The company’s stock performance has fluctuated, with a 50-day simple moving average of $28.12 and a 200-day average of $33.50. Over the past year, the stock has seen a low of $18.00 and a high of $45.00.

Analyst Ratings Update

In related news, Jefferies Financial Group adjusted its ratings for Schibsted, downgrading the stock from a “strong-buy” to a “hold” as of January 6, 2024. Currently, one analyst has rated the stock as a Hold, while another has issued a Sell rating. According to data from MarketBeat.com, Schibsted ASA holds an average rating of “Reduce” among analysts.

About Schibsted ASA

Founded in 1839 with the establishment of the newspaper Aftenposten, Schibsted ASA has transformed into a leading digital operator in various sectors, including classifieds, online marketplaces, and news media. The company employs data-driven insights and advanced technology platforms to connect buyers and sellers, while also delivering news and content to audiences across multiple channels.

In its media division, Schibsted publishes well-known Scandinavian news brands, including Aftenposten in Norway and Verdens Gang (VG), offering both print and digital editions. This strategic positioning has allowed Schibsted to maintain a significant presence in the evolving media landscape.

As the company continues to adapt to market changes, stakeholders will be keen to observe how Schibsted ASA navigates the forthcoming quarters in light of these latest earnings figures and analyst feedback.